Ancient Kingdom (ACDOM) researches in gaming market, NFTs market, digital payment, and gerne competitive analysis
- 1.Gaming Market
Around 75% of online gamers want to exchange their virtual assets for a currency that can be used to purchase and sell on other platforms. Cryptocurrency empowers players to accumulate and trade virtual assets that may be transferred and traded anywhere in the world. Using cryptocurrencies in online games saves a lot of money on handling and exchange fees. It facilitates players to play without having to verify their identity or email address. According to one estimate, 2.7 billion users might spend $159.3 billion on online gaming in 2020.
Many consider the NFT gaming business as the inevitable extension of what individuals are already doing in the bitcoin realm. The prospective market for non-fungible tokens (NFTs) — digital assets related to ownership that are kept on a blockchain and are frequently used for buying and selling digital assets in the NFT game — is growing rapidly. And in the sphere of NFT, the metaverse concept is paving the way for a new type of digital ownership. The notion of "the metaverse" is commonly represented as a virtual environment with actual and augmented reality. It also mentions that this platform would stimulate peer-to-peer engagement and provide users with unique methods to uncover new experiences in video game players.
Many investors are willing to spend up to $4.5 billion on virtual reality (VR), indicating that the new experience has a social component that extends beyond the blockchain world in particular and the marketplace features in general.
For the Ancient Kingdom, what we expected was how much positive impact our earlier individual demands would have on our overall development and our ability to win some of the most competitive seed deals in the NFT marketplaces.
2. NFT Market
NFTs are digital assets that reflect real-world artefacts like art, collectibles, and in-game goods. They are frequently encoded into smart contracts on a blockchain and transacted online, frequently with the use of cryptocurrencies.
Between January 2019 and July 2020, the Art, Games, and Metaverse categories accounted for 90% of the total volume traded on NFT, contributing 18%, 33%, and 39%, respectively. Since mid-July 2020, the market volume has been led by NFTs classed as Art, which account for 71% of total transaction volume, followed by Collectible assets, which account for 12%. Since July 2020, the most traded NFTs have been in the categories Games and Collectible, which represent 44% and 38% of total transactions, respectively.
3. Digital Payment
The online betting industry is well-positioned to benefit from the rise of digital payment systems that use this technology. The growing usage of cryptocurrency in the gaming industry can help websites request particular information on users' data by using cryptocurrency. Because of their decentralized nature, cryptocurrencies are also less expensive than traditional modes of payment, such as bank transfers.
The worldwide web based betting business sector is relied upon to develop from $58.9 billion in 2019 to $66.7 billion in 2020 at a development pace of 13.2%. The development is principally ascribed to COVID 19, because of which the populace is bound to home during the lockdown and has available energy to partake in a few free and paid recreation exercises including internet betting. The market is then expected to reach $92.9 billion by 2023 at a CAGR of 11.64%
Bitcoin casinos have already set a new standard for online betting. People are allowed to play anonymously and avoid the regulations of their local nation. Bitcoin is gaining popularity in the online gaming industry because of the ease, simplicity, and speed with which it may be deposited and withdrawn from an online casino. More online casinos will accept Bitcoin as a payment mechanism as more players utilize it (The Guardian, 2021)
4. Genre Competitive Analysis Ancient Kingdom is an out of this world game that later will bloom in the trending market as NFT is escalating exponentially. The game also supports and avoids being hacked with accounts or NFT items, enhancing the trading possibility.
DOM is the virtual currency that can be used in exchanges to trade as well as farm, and complete transactions smoothly. Hence, gamers can at the same time enjoy their entertaining gameplay and exploit a lot of economic benefits, which leads to a thorough liquidity flow.